XRP Price Set For 80% Extended Rally, While Bitcoin Price Might Retest This Bottom Level

A well-known crypto strategist and trader has come up with his analysis portraying his bullish stance for Ripple’s XRP, while he gives price targets for Bitcoin (BTC), Optimism (OP), and ApeCoin (APE)

The analyst who is anonymously known as Altcoin Sherpa believes that the XRP price is all set to rally towards $0.60 before the altcoin hits a target of $0.87

However, at the time of writing, XRP has plunged by 6.21% over the last 24hrs and is trading at $0.508. If the XRP price performs as per the analyst’s target of $0.87, the currency will have to rise nearly 80% from its current price.

Bitcoin (BTC)

Next, Altcoin Sherpa talks about the world’s first cryptocurrency, Bitcoin (BTC). He believes that the King currency is about to plunge. The strategist warns traders to trade cautiously as Bitcoin might drop below the $17,500 price levels

Currently, Bitcoin is changing hands at $19,121 after a drop of 1.37% in the last 24hrs.

Optimism (OP)

The next currency that has caught the trader’s attention is Optimism (OP), which is an Ethereum scaling solution. The analyst predicts that Optimism (OP) will experience a short-term bounce before the currency marks its area around $0.50 area. Altcoin Sherpa claims that at present Optimism (OP) is in the high volume node (HVN) in terms of volume.

At the moment, OP is selling at $0.94 after a plunge of 3.18% on the last day.

ApeCoin (APE)

Before Altcoin Sherpa concludes his strategy session, he refers to ApeCoin (APE) which is a native currency of the Bored Ape Yacht Club non-fungible token (NFT) community. As per the expert, the current status of ApeCoin (APE) is quite scary by which he refers that there is more room for profit if the currency manages to reclaim the $5.90 area.

Currently, ApeCoin is selling at $5.64 after a drop of 4.41 in the last 24hrs.